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What money can't buy : the moral limits of markets

Should we pay children to read books or to get good grades? Should we allow corporations to pay for the right to pollute the atmosphere? Is it ethical to pay people to test risky new drugs or to donate their organs? What about hiring mercenaries to fight our wars? Auctioning admission to elite universities? Selling citizenship to immigrants willing to pay? In this book the author takes on one of the biggest ethical questions of our time: Is there something wrong with a world in which everything is for sale? If so, how can we prevent market values from reaching into spheres of life where they don't belong? What are the moral limits of markets? In recent decades, market values have crowded out nonmarket norms in almost every aspect of life including medicine, education, government, law, art, sports, even family life and personal relations. Without quite realizing it, the author argues, we have drifted from having a market economy to being a market society. Is this where we want to be? What is the proper role of markets in a democratic society, and how can we protect the moral and civic goods that markets don't honor and that money can't buy?Read more...

Introduction: Markets and morals --
Jumping the queue --
Incentives --
How markets crowd out morals --
Markets in life and death --
Naming rights.

Responsibility:

Michael J. Sandel.

Abstract:

Should we pay children to read books or to get good grades? Should we allow corporations to pay for the right to pollute the atmosphere? Is it ethical to pay people to test risky new drugs or to donate their organs? What about hiring mercenaries to fight our wars? Auctioning admission to elite universities? Selling citizenship to immigrants willing to pay? In this book the author takes on one of the biggest ethical questions of our time: Is there something wrong with a world in which everything is for sale? If so, how can we prevent market values from reaching into spheres of life where they don't belong? What are the moral limits of markets? In recent decades, market values have crowded out nonmarket norms in almost every aspect of life including medicine, education, government, law, art, sports, even family life and personal relations. Without quite realizing it, the author argues, we have drifted from having a market economy to being a market society. Is this where we want to be? What is the proper role of markets in a democratic society, and how can we protect the moral and civic goods that markets don't honor and that money can't buy?

"Should we pay children to read books or to get good grades? Should we allow corporations to pay for the right to pollute the atmosphere? Is it ethical to pay people to test risky new drugs or to donate their organs? What about hiring mercenaries to fight our wars? Auctioning admission to elite universities? Selling citizenship to immigrants willing to pay? In this book the author takes on one of the biggest ethical questions of our time: Is there something wrong with a world in which everything is for sale? If so, how can we prevent market values from reaching into spheres of life where they don't belong? What are the moral limits of markets? In recent decades, market values have crowded out nonmarket norms in almost every aspect of life including medicine, education, government, law, art, sports, even family life and personal relations. Without quite realizing it, the author argues, we have drifted from having a market economy to being a market society. Is this where we want to be? What is the proper role of markets in a democratic society, and how can we protect the moral and civic goods that markets don't honor and that money can't buy?"@en